3,364,536 Shares in American Express Company $AXP Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,364,536 shares of the payment services company’s stock, valued at approximately $1,138,054,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. purchased a new position in American Express during the second quarter worth about $12,879,000. Evolve Private Wealth LLC acquired a new position in American Express in the 2nd quarter valued at about $5,172,000. Keybank National Association OH grew its stake in shares of American Express by 3.0% in the 4th quarter. Keybank National Association OH now owns 359,261 shares of the payment services company’s stock valued at $132,909,000 after buying an additional 10,495 shares during the period. Swiss Life Asset Management Ltd increased its holdings in shares of American Express by 34.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 139,887 shares of the payment services company’s stock worth $51,751,000 after buying an additional 35,533 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of American Express by 6.2% during the 4th quarter. Peapack Gladstone Financial Corp now owns 65,997 shares of the payment services company’s stock worth $24,416,000 after buying an additional 3,855 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 0.4%

Shares of NYSE AXP opened at $337.38 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $343.23 and its two-hundred day moving average is $326.56. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The firm has a market cap of $227.84 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.36 and a beta of 1.04.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $4.53 EPS for the quarter, topping the consensus estimate of $4.41 by $0.12. American Express had a return on equity of 34.12% and a net margin of 15.07%.The business had revenue of $19.64 billion during the quarter, compared to analyst estimates of $19.70 billion. During the same period last year, the business posted $4.08 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. American Express has set its FY 2026 guidance at 17.300-17.900 EPS. Research analysts predict that American Express Company will post 17.67 EPS for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is 23.06%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AXP. Evercore set a $370.00 price objective on American Express in a report on Monday, July 27th. Morgan Stanley cut their target price on American Express from $385.00 to $382.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. Piper Sandler lifted their target price on American Express from $396.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. UBS Group decreased their price target on American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada cut American Express from a “moderate buy” rating to a “hold” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, American Express presently has an average rating of “Moderate Buy” and an average price target of $373.32.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.